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New Year, New Deals: How Smart Operators Keep More Profit

Modern Restaurant Management

The reality is, these vendors make a healthy profit off every sale, and many are willing to negotiate if you know how to play the game. Start by asking your distributor sales representative for a usage report covering the past twelve months, often referred to as a “Descending Dollar Usage Report.”

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Restaurant Menu Pricing: How to Set Prices That Boost Profits And Keep Customers

ChowNow

Somewhere in between is the number that makes sense for your food costs, your market, and your restaurants unique position. Menu pricing shouldnt be a guessing gameit should reflect the real costs of running your restaurant, what your guests are willing to pay, and where you stand in the local market.

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Optimizing Drive-Thru Efficiency (Infographic)

Modern Restaurant Management

This crucial aspect significantly influences the financial success of your Quick-Serve Restaurant (QSR) and plays a pivotal role in thriving within a competitive market. To expedite cash transactions, opt for a Point of Sale (POS) system with a fast-tender feature, predicting the amount of cash the customer might pay.

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Leveraging POS Systems to Future-Proof Your Restaurant and Maximize Profits

Modern Restaurant Management

To combat these obstacles among countless others, leaning on point-of-sale (POS) solutions can empower restaurants to quickly leverage new features to maximize profits in a fluctuating service economy. Maximizing your POS system would make your restaurant more competitive in a market that is struggling to retain workers.

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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

You'll have a document to reference during the planning or opening of your restaurant. Section 3: Market Analysis. Section 4: Marketing Plan. A business plan should include information on your target market, competition, business model, marketing strategy, and financial projections. Table of Contents. Download now.

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Reporting Best Practices in the Restaurant Industry

Modern Restaurant Management

For example, basic point of sale (POS) systems or integrated restaurant management systems are useful digital tools that enable data reporting. For example, labor, sales, inventory, and customer relationship management (CRM) reports are some of the reports restaurants should consider pulling together.

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15 Restaurant Metrics to Know and How To Use Them

7 Shifts

Break-even point. Sales per labor hour. You can now determine what percentage this is off your overall sales to get a picture of your restaurant's financial health. Business is often a game of numbers, and restaurants are no exception. If it's not measured, it won't be managed. Table of Contents: Cost of Goods Sold.